subs. (racing).A bet made at large odds: as 100 to 1 on anything not in favour.
1869. The Leisure Hour, xviii. 1 May, 326/1. He may also, by sedulous study, learn to systematise his turf speculations, may know when it is prudent to back a jockey or a LONG SHOT, when to take advantage of the market odds, how to save himself from peril by timely hedging, etc.
1888. Sporting Life, 10 Dec. Bachelor was next in demand at 5 to 1, and LONG SHOTS were forthcoming about either of the others.
1892. MILLIKEN, Arry Ballads, 16. A jolly LONG SHOT.